Venice, a privacy-preserving AI platform, has concluded its community airdrop, resulting in the destruction of $100 million worth of unclaimed $VVV tokens. Launched on January 27 on the Ethereum Layer 2 Base network, the $VVV token saw over 40,000 recipients receiving 17.4 million tokens, which is 35% of the community allocation. The destruction of 32.6 million $VVV tokens, representing 65% of the community allocation and one-third of the Genesis supply, significantly reduces market circulation. Despite this, 14 million $VVV tokens will be introduced annually, with an initial 14% inflation rate that will decrease based on the Venice API's usage rate. Venice has not engaged in VC financing, pre-sales, or OTC transactions and has repurchased and destroyed 1% of the Genesis supply in response to community concerns. Future plans include launching an image engine, social dynamics, mobile applications, and updates to the token economy.
